Innovation can be defined simply as a "new idea, device or method". However, innovation is often also viewed [by whom?] as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. Such innovation takes place through the provision of more-effective products, processes, services, technologies, or business models that are made available to markets, governments and society. The term "innovation" can be defined [by whom?] as something original and more effective and, as a consequence, new, that "breaks into" the market or society. Innovations tend to be produced by outsiders and founders in start-ups, rather than existing organizations.

Want your views.

More Ayodele Otaiku's questions See All
Similar questions and discussions